The 13th Ministerial Conference (MC13) of the World Trade Organisation (WTO) kicked off in Abu Dhabi, UAE on Monday, 26 February 2024. The MC13 motto is “Delivering For People Through Trade”. We are all hoping for a successful Ministerial Conference which will reinforce people’s faith in the multilateral trading system with the WTO at its core.
The day began with the ceremonial high-level Opening Session of MC13. The formal transmittal of work from Geneva to the Ministerial Conference was undertaken and a report of the WTO’s activities was presented to the Ministers.
A highlight of the opening session was the accession ceremony of Comoros and Timor-Leste, the latest countries to have formally joined the WTO. This now takes the organisation’s strength to 166. The formal entry of the two countries into the WTO, both Least-Developed Countries (LDCs), is a welcome development.
Later in the day, WTO Members participated in “Ministerial Conversations” on Trade and Sustainable Development, including Trade and Industrial Policy, Policy Space for Industrial Development, and Trade and Inclusion. The broad thrust of these sessions was to discuss how the WTO should cover these topics in its work.
Earlier on Sunday, Ministers of a group of WTO Members issued a Joint Ministerial Declaration on the Investment Facilitation for Development (IFD) Agreement (WT/MIN(24)/17). This agreement seeks to improve the international business climate and facilitate the conduct of business by investors in all sectors. The agreement marks an important recognition of the complementary nature of trade and investment and has the potential to enhance the transparency of investment measures and streamline administrative procedures. With the final text of the IFD Agreement now agreed, the focus will shift to its incorporation into the WTO Agreement.
Stay tuned for our next bulletin tomorrow.
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MC 13 Side Event
TESS Roundtable on Climate, Trade and Sustainable Development
The Forum on Trade, Environment & the SDGs (TESS) organised a roundtable discussion on climate, trade and sustainable development. The goal was to bring together a diverse group of stakeholders to discuss how to advance inclusive cooperation and promote coherent, action-oriented policies in the trade-climate-sustainable development nexus. Participants deliberated on the major policy priorities and the role of the multilateral trading system in achieving this.
Key takeaways:
- Ensure adequate balance between the economic, environmental and equity dimensions of sustainable development.
- Adopt inter-disciplinary, sectoral approaches towards the issues and balance normative and process considerations.
- Conduct impact assessments and examine the on-ground implications of unilateral policies, beyond just their compliance with the legal framework.
- Recognise that greening of trade is linked to the greening of the overall economy and larger questions of economic transformation of developing and least-developed countries. Attach priority to greening trade finance.
- Revive environmental goods and services-related negotiations in the WTO. Harness the role of the WTO as a platform for incremental advancement on these issues, rather than focusing entirely on the expansion of new negotiation tracks.
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Pradeep S. Mehta, Secretariat General CUTS International with Katherine Tai, USTR at WTO MC13 in Abu Dhabi on 26/2/24 exchanging pleasantries and speaking about the deepening Indo-US relationship with the plea that the same must be reflected in the MTS also.
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As the 13th Ministerial Conference of the World Trade Organization (WTO) commences, concerns arise not about its failure, but whether its decline is worth acknowledging. Despite criticisms of neoliberalism, a functioning WTO is deemed crucial for global prosperity, countering the growing trend of trade protection and economic fragmentation, which threatens to lead the world economy into chaotic disarray.
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The 13th WTO Ministerial Conference (MC13) commenced in Abu Dhabi on 26th February, urging WTO members to harness the complete potential of the multilateral trading system. The aim is to ensure it effectively benefits the people it serves, expediting the green transition and promoting socio-economic inclusion on a global scale. Ngozi Okonjo-Iweala, the Director-General of WTO, called upon members to exhibit leadership, flexibility, and a spirit of compromise to achieve significant results at MC13 for the well-being of both people and the planet.
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Indian farmers and civil society groups, including Samyukta Kisan Morcha, expressed concern at WTO's 13th ministerial conference (MC13). Developed nations and farm exporters reportedly block crucial agricultural issues mandated by previous conferences, sidelining developing countries' demands for a permanent solution to food stockpiling. Around 80 nations, including India, call for action on public stockholding, emphasising food security as a national concern. The proposed permanent solution faces resistance from the US and other wealthy nations, raising uncertainties about MC13 outcomes and highlighting the need for a fair, practical Special Safeguard Mechanism.
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